Celgene Corporation (CELG) Stake Boosted by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky increased its stake in Celgene Corporation (NASDAQ:CELG) by 80.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,600 shares of the biopharmaceutical company’s stock after buying an additional 77,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Celgene Corporation were worth $21,601,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in CELG. Bank of Montreal Can increased its stake in Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock valued at $410,615,000 after buying an additional 1,979,061 shares during the period. Investec Asset Management LTD bought a new stake in Celgene Corporation during the first quarter valued at about $194,490,000. State Street Corp increased its stake in Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after buying an additional 723,844 shares during the period. Pioneer Investment Management Inc. increased its stake in Celgene Corporation by 15.7% in the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock valued at $650,911,000 after buying an additional 710,584 shares during the period. Finally, Swiss National Bank increased its stake in Celgene Corporation by 27.2% in the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock valued at $341,796,000 after buying an additional 588,000 shares during the period. Institutional investors own 78.34% of the company’s stock.
Celgene Corporation (CELG) traded down 0.16% during mid-day trading on Tuesday, hitting $132.75. The company’s stock had a trading volume of 440,855 shares. The firm has a 50 day moving average of $134.10 and a 200-day moving average of $124.62. The firm has a market cap of $103.86 billion, a price-to-earnings ratio of 41.11 and a beta of 1.89. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $139.00.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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CELG has been the subject of several recent analyst reports. Leerink Swann upgraded Celgene Corporation from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $94.42 to $150.00 in a research note on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $98.00 price target (up previously from $93.00) on shares of Celgene Corporation in a research note on Wednesday, May 17th. William Blair reiterated an “outperform” rating on shares of Celgene Corporation in a research note on Monday, June 26th. BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and upped their price target for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 price target on Celgene Corporation and gave the stock a “buy” rating in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Celgene Corporation presently has an average rating of “Buy” and a consensus target price of $147.00.
In other news, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the transaction, the insider now owns 4,004 shares in the company, valued at $481,200.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $125.59, for a total transaction of $1,161,707.50. The disclosure for this sale can be found here. Insiders have sold 253,761 shares of company stock worth $33,792,445 in the last quarter. Company insiders own 0.95% of the company’s stock.
Celgene Corporation Company Profile
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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